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How much money do first-round picks in the NFL make in 2023?

How much money do NFL first-round picks make in 2023? originally appeared on NBC Sports Philadelphia

Hundreds of lives will change this weekend.

With 259 picks in the 2023 NFL Draft from Thursday through Saturday, dreams will soon become reality for the players and their families.

Getting drafted to the NFL doesn’t guarantee lifelong wealth, but it’s certainly a good financial way to start your professional life.

How much will each player make, exactly? Here’s a full deep dive of how rookie contracts work in the NFL:

How are NFL rookie contracts determined?

Since the 2011 collective bargaining agreement, rookie contracts are locked in based on where each player is selected.

All rookie contracts are four-year deals, with extension negotiations able to begin after the third year. Deals for first-round picks have a fifth-year option, which the team can exercise after the third year to make the contract into a five-year pact.

Related: Full list of every pick from the 2023 NFL Draft

In terms of a salary, it’s pretty simple: the higher you get picked, the more money you make.

What will the salary be for the No. 1 pick in the NFL Draft?

The projected contract for the No. 1 pick in 2023 is roughly $41,217,000 in total value, with an estimated signing bonus of $26,976,000 and a 2023 cap of $7,494,000, according to Spotrac.

The Carolina Panthers went on to select Alabama quarterback Bryce Young with the No. 1 overall pick on Thursday.

What is the NFL rookie salary scale by round?

Here’s the total value of each first-round rookie contract for 2023, according to Spotrac:

  • No. 1: $41.2 million

  • No. 2: $39.4 million

  • No. 3: $38.2 million

  • No. 4: $36.9 million

  • No. 5: $34.5 million

  • No. 6: $30.4 million

  • No. 7: $27.02 million

  • No. 8: $23.7 million

  • No. 9: $23.5 million

  • No. 10: $22.6 million

  • No. 11: $21.2 million

  • No. 12: $19.2 million

  • No. 13: $18.7 million

  • No. 14: $17.8 million

  • No. 15: $17.5 million

  • No. 16: $16.5 million

  • No. 17: $16.2 million

  • No. 18: $15.7 million

  • No. 19: $15.5 million

  • No. 20: $15.4 million

  • No. 21: $15.3 million

  • No. 22: $15.2 million

  • No. 23: $14.99 million

  • No. 24: $14.7 million

  • No. 25: $14.5 million

  • No. 26: $14.3 million

  • No. 27: $14.16 million

  • No. 28: $14.07 million

  • No. 29: $13.4 million

  • No. 30: $13.05 million

  • No. 31: $12.75 million

You can see the salary figures for rounds two through seven right here.